Let’s say that after all that time of paying big fees and interest on your credit card you were finally forced to stop paying it. After all, food and other necessities are far more important that making sure the bank gets paid twice or three times over for every dollar you charge. Then the day comes, either a nice semi-retired deputy sheriff, or a not so nice private process server, brings you a notice that the bank has sued you. Well, don’t think that the game is over and the bank wins. You still have options. In fact, the lawsuit demonstrates that you need to discuss your options with a qualified Bankruptcy Attorney right away.
What Are Your Options?
Your worst option is to do nothing. Twenty days after you are served, the bank’s attorney can ask for a default. They can then get a judgment for the total owed plus fees and costs. Then the banks collectors can use that judgment to slowly slip a noose around your financial neck. One minute you’ll be ignoring the bank and court and the next your money, bank accounts, and even salary will be attacked with the judgment. You’ll be gasping for a financial breath.
There are several legal remedies available to assist you. There are often defenses to a credit card suits. Sometimes negotiations, or a Chapter 7 or Chapter 13 bankruptcy is the “fix" needed. Please take the time to schedule a free consultation with your local Bankruptcy Attorney.